COMMENTARY

10:21 AM MST | February 4, 2008 | Chemical Week Editorial Staff

Primary hydrocarbons rose last week and spot naphtha in Europe followed, gaining $35/m.t. But olefins producers had their attention focused on a series of operational problems that put spot markets into a tumult. Spot ethylene tumbled €30/m.t. and spot propylene fell €20/m.t., sellers say. The primary cause was trouble at Shell’s Moerdijk terminal in the Netherlands that prevented it from taking volume. In an already oversupplied market, the spill over meant a short fire sale on pounds in the pipe. The dip is not expected to last, however, as...